Grayscale Bitcoin Trust (NYSEARCA:GBTC) Shares Sold by Discovery Capital Management LLC CT

Discovery Capital Management LLC CT reduced its stake in shares of Grayscale Bitcoin Trust (NYSEARCA:GBTC) by 56.8% in the second quarter, according to its most recent filing with the SEC. The institutional investor owned 602,617 shares of the company’s stock after selling 793,400 shares during the period. Grayscale Bitcoin Trust comprises approximately 4.2% of Discovery Capital Management LLC CT’s portfolio, making the stock its 6th biggest position. Discovery Capital Management LLC CT owned about 0.12% of Grayscale Bitcoin Trust worth $32,083,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of GBTC. DHJJ Financial Advisors Ltd. purchased a new position in Grayscale Bitcoin Trust during the second quarter worth about $26,000. Dixon Mitchell Investment Counsel Inc. purchased a new position in shares of Grayscale Bitcoin Trust in the 1st quarter worth approximately $27,000. Global Wealth Strategies & Associates bought a new position in shares of Grayscale Bitcoin Trust in the second quarter valued at approximately $27,000. YHB Investment Advisors Inc. purchased a new stake in shares of Grayscale Bitcoin Trust during the first quarter valued at approximately $28,000. Finally, Toth Financial Advisory Corp bought a new stake in Grayscale Bitcoin Trust during the first quarter worth $28,000.

Grayscale Bitcoin Trust Trading Down 0.7 %

GBTC stock opened at $50.03 on Monday. The stock has a market cap of $25.55 billion, a P/E ratio of 2.29 and a beta of 1.25. The stock’s fifty day simple moving average is $49.88 and its two-hundred day simple moving average is $55.29. Grayscale Bitcoin Trust has a 1-year low of $18.04 and a 1-year high of $65.61.

About Grayscale Bitcoin Trust

The Grayscale Bitcoin Trust (GBTC) is an exchange-traded fund that mostly invests in long btc, short usd currency. The fund is passively managed, offering exposure to the daily USD spot price of bitcoin (BTC). An investment in the fund is not a direct investment in bitcoin. GBTC was launched on Jan 11, 2024 and is issued by Grayscale.